Wacker Tower finds buyer

Teachers Insurance and Annuity Assn. has agreed to buy the 39-story, 1.2 million-square-foot building at 1 S. Wacker Drive from Metropolitan Life Insurance Co., sources said. A sale price couldn't be determined, but the building was expected to sell for about $150 to $180 a square foot, or about $180 million to $216 million.

The New York-based insurance company put the property, along with the 37-story building at 10 S. LaSalle St., on the market in September as part of a plan to prune its national portfolio.

MetLife and Teachers declined to comment, and a representative of Cushman & Wakefield Inc., the firm hired to sell the buildings, did not return calls seeking comment.